175,000 Shares in Realty Income Corporation $O Purchased by Zimmer Partners LP

Key Points

• Zimmer Partners LP acquired 175,000 shares of Realty Income Corporation, valued at approximately $10.15 million, during the first quarter.
• Realty Income announced a dividend increase to $0.269 per share, representing an annualized yield of 5.5%, with a payout ratio of 313.59%.
• Analysts have mixed ratings on Realty Income, with a consensus "Hold" rating and an average target price of $62.00, despite varying price objectives from different research firms.

Zimmer Partners LP purchased a new position in Realty Income Corporation (NYSE:O - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 175,000 shares of the real estate investment trust's stock, valued at approximately $10,152,000.

Several other institutional investors also recently modified their holdings of O. Nuveen LLC bought a new position in shares of Realty Income in the 1st quarter worth about $207,573,000. Vanguard Group Inc. increased its stake in Realty Income by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 142,511,359 shares of the real estate investment trust's stock valued at $8,267,084,000 after purchasing an additional 3,274,853 shares in the last quarter. Centersquare Investment Management LLC increased its stake in Realty Income by 27.0% during the 1st quarter. Centersquare Investment Management LLC now owns 4,971,123 shares of the real estate investment trust's stock valued at $288,375,000 after purchasing an additional 1,055,840 shares in the last quarter. Raymond James Financial Inc. increased its stake in Realty Income by 9.6% during the 1st quarter. Raymond James Financial Inc. now owns 11,356,883 shares of the real estate investment trust's stock valued at $658,813,000 after purchasing an additional 992,303 shares in the last quarter. Finally, Adelante Capital Management LLC increased its stake in Realty Income by 1,380.2% during the 1st quarter. Adelante Capital Management LLC now owns 860,671 shares of the real estate investment trust's stock valued at $49,928,000 after purchasing an additional 802,526 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors.

Realty Income Stock Performance

Shares of NYSE O opened at $59.15 on Tuesday. The firm's 50-day moving average price is $57.75 and its 200-day moving average price is $56.99. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.72. The company has a market cap of $54.08 billion, a PE ratio of 57.42, a PEG ratio of 4.53 and a beta of 0.77. Realty Income Corporation has a 52-week low of $50.71 and a 52-week high of $64.88.

Realty Income (NYSE:O - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.06 by ($0.01). The company had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.33 billion. Realty Income had a net margin of 16.77% and a return on equity of 2.34%. The business's revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 EPS. As a group, analysts anticipate that Realty Income Corporation will post 4.19 EPS for the current year.

Realty Income Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a $0.269 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Realty Income's previous monthly dividend of $0.26. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. Realty Income's payout ratio is 313.59%.

Analyst Ratings Changes

A number of research firms have weighed in on O. Barclays raised their price objective on shares of Realty Income from $58.00 to $59.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 20th. Scotiabank raised their price objective on shares of Realty Income from $58.00 to $60.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. Wolfe Research lowered shares of Realty Income from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Finally, UBS Group raised their price objective on shares of Realty Income from $62.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Realty Income currently has a consensus rating of "Hold" and an average target price of $62.00.

Realty Income Company Profile

Realty Income, The Monthly Dividend Company, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats index. We invest in people and places to deliver dependable monthly dividends that increase over time. The company is structured as a real estate investment trust ("REIT"), and its monthly dividends are supported by the cash flow from over 15,450 real estate properties (including properties acquired in the Spirit merger in January 2024) primarily owned under long-term net lease agreements with commercial clients.

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